Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Huntington Bancshares Incorporated (NASDAQ:HBAN)

Mirae Asset Global Investments Co. Ltd. raised its stake in Huntington Bancshares Incorporated (NASDAQ:HBAN) by 19.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,208,948 shares of the bank’s stock after buying an additional 200,525 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Huntington Bancshares were worth $19,801,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Asset Dedication LLC grew its stake in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after acquiring an additional 1,202 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Huntington Bancshares by 126.8% in the fourth quarter. Y.D. More Investments Ltd now owns 1,830 shares of the bank’s stock valued at $30,000 after purchasing an additional 1,023 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $31,000. Fortitude Family Office LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth approximately $32,000. Finally, Crews Bank & Trust acquired a new position in shares of Huntington Bancshares during the 4th quarter worth approximately $58,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott D. Kleinman sold 28,600 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the transaction, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on HBAN. DA Davidson increased their price objective on Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research note on Monday, October 21st. Citigroup lifted their price target on shares of Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their price objective on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a report on Tuesday, January 21st. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $18.06.

Huntington Bancshares Stock Performance

Shares of NASDAQ HBAN opened at $16.92 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.92. The firm’s 50-day moving average price is $16.88 and its two-hundred day moving average price is $15.79. Huntington Bancshares Incorporated has a 52-week low of $12.05 and a 52-week high of $18.44. The stock has a market capitalization of $24.58 billion, a P/E ratio of 13.76, a P/E/G ratio of 1.42 and a beta of 1.07.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%. During the same period in the previous year, the firm posted $0.27 EPS. As a group, sell-side analysts forecast that Huntington Bancshares Incorporated will post 1.4 earnings per share for the current year.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.